KALAMAZOO, MI (April 10, 2015) — You attend your local Farmer’s Market every weekend. You buy arts and baked goods from beloved community artisans whenever possible. Your favorite place to shop is not the mall or big box stores, but the unique shops in the Kalamazoo mall. You’re more inclined to dine at a local establishment rather than a national chain. You are a dedicated supporter of the Buy Local movement! But…do you also bank local?
“Buy Local” is a thriving nationwide movement, and for good reason. According to the American Independent Business Alliance (AMIBA), “independent locally-owned businesses recirculate a far greater percentage of revenue locally compared to locally-owned franchises).” How much more? A whopping 48% vs. 13.6%. (source). And the local businesses who participate in a buy local campaign see more than a 9% increase in sales compared to those who don’t.
Which is why Kalamazoo and surrounding areas benefit from Buy Local Greater Kalamazoo. A homegrown operation founded in 2008, Buy Local Kalamazoo’s mission is to build awareness of the benefits of supporting local independent businesses. The logic is simple – when local business owners and residents purchase services and supplies locally, the economic benefits affect everyone:
- Local Economy - Local businesses keep dollars in the community. For every $100 spent locally, $68 stays in your community.
- Nurture Community – Local business owners are committed to investing in the future of their community and contribute to local charitable organizations.
- Local Owner Expertise – Local business owners possess expertise & passion for the products they sell and a greater interest in getting to know their customers – who are, after all, their neighbors.
- Preserve Entrepreneurship – The success of locally owned, independent businesses provides real-life inspiration to young people, proving that they can stay in Michigan and prosper.
Bank Local
When you think about it, these benefits go hand in hand with Educational Community Credit Union and the overall “people helping people” credit union philosophy they apply to both personal and commercial banking. After all, ECCU is local, and it’s the cooperative effort that has allowed them to grow from seven initial members in 1935 to the 37,000+ members and businesses they serve today.
ECCU serves your family, coworkers, businesses, teachers, and healthcare providers and makes lending decisions locally. Loans are serviced right here in your community, and you’ll always hear a familiar voice or see a familiar face if you have any questions. The credit union donates to several local businesses, like the Fresh Food Fairy, Kalamazoo Nature Center, Southwest Michigan Land Conservancy, Kalamazoo Loaves and Fishes, Housing Resources, Inc., Southwest Michigan SPCA, Girls Scouts Heart of Michigan, just to name a few.
ECCU is proud to be a member of Buy Local Greater Kalamazoo and supports many of the members, both as an organization and personally. If you want to show your support for local businesses but aren’t sure where to start, the Buy Local Greater Kalamazoo member directory is a great place to begin.
With seven convenient locations, ECCU is a full-service financial institution serving anyone who lives or works in a 21-county area in West Michigan. For details on credit union membership, visit www.eccu1.org.
About ECCU
Established in 1935, ECCU has grown from serving only Kalamazoo school employees, to serving the greater educational community, to now providing a full range of financial products and services to anyone who lives, works, worship or attends school in any of our 21 Michigan counties. The credit union exceeds $419 million in assets and serves more than 37,200 members. Visit eccu1.org to learn for yourself why ECCU just feels right, and our members feel right at home.
About Buy Local Greater Kalamazoo
Buy Local Greater Kalamazoo grew out of an interest on the part of local business owners and consumers to distinguish businesses that support the local economy. Since 2008, their unique community of local & independent businesses and non-profits enhance the character and integrity of the greater Kalamazoo area. Learn more about their mission and guiding principles at buylocalkalamazoo.org.